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Alaska king crab fishing in the 1960s and 70s was a dangerous but rich fishery. Boats from as far away as California and Japan braved treacherous waters to reach the abundant king crab beds in Cook Inlet and Bristol Bay, major waters along the southern Alaska coast. In the early 1980s, the fishery crashed due to overfishing. All crabbing in those areas ended. To this day, there is no crabbing in Bristol Bay or Cook Inlet. a. How would an economist explain the decline of the Alaska king crab fishery

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ogorwyne

Answer:

Common good

Explanation:

The decline of the Alaska king crab fishery would be explained using the concept of common good.

Now to provide further explanation on what a common good is:

A common good is a good that is beneficial to all persons. Such a good serves everybody as there is no exclusion or rivalry. One major problem with common goods are a depletion of resources. This is what happened when the fishery crashed due to fishery because everyone is entitled to it and uses it, the problem of overfishing was bound to happen.

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